Gingrich will not borrow money from Dole to pay ethics fine

By Ann Curley/CNN

WASHINGTON (September 14) -- House Speaker Newt Gingrich will not need to borrow money from former Sen. Bob Dole to pay the $300,000 he owes the House of Representatives to cover costs of his ethics investigation.

House Speaker Newt Gingrich

The House Ethics Committee released a statement saying Gingrich has
executed a release of Dole from "any and all obligations pursuant to
the loan agreement."

The statement says that the speaker has paid the U.S. Treasury $100,000 in accordance with the repayment schedule and is due to make two more payments in November and in January. Those additional payments will fulfill the terms of the cost assessment approved by the House of Representatives in January 1997.

When asked to explain where Gingrich got the funds to start paying the
fine, a Gingrich spokesman refused to expand on the ethics committee statement.

Gingrich agreed on December 21, 1996 to accept the House ethics investigative subcommittee's finding that he should have sought legal advice on the propriety of using tax-deductible donations to fund two college courses that he taught.

He also admitted to providing inaccurate information to the ethics committee in two instances.

On Jan. 21, 1997 the full House voted 395-28 to approve the House Ethics Committee's punishment of a reprimand plus a $300,000 penalty. Though it allowed him to hold onto his powerful post, the outcome marked the first time a sitting speaker has been disciplined by the House.

Dole then stepped forward to offer to assist Gingrich in paying the loan.